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PCC GROUP INC. ANNOUNCES SHARP INCREASES IN 1992 THIRD QUARTER AND NINE MONTH RESULTS

 PCC GROUP INC. ANNOUNCES SHARP INCREASES
 IN 1992 THIRD QUARTER AND NINE MONTH RESULTS
 BREA, Calif., Aug. 14 /PRNewswire/ -- Jack Wen, president of PCC Group Inc. (OTC) announced today sharp increases in revenues and earnings for the third quarter ended June 30, 1992.
 Net sales rose 66 percent to $22,990,000 compared to $13,844,000 for the same third quarter last year. Net income for the third quarter advanced to $150,000, or $.04 per share, compared with a loss of ($510,000) and ($.23) per share for last year's third quarter.
 For the nine months ended June 30, 1992 revenues reached $69,037,000, a 53 percent increase over revenues of $45,068,000 for last year's nine-month period. Net income for the current nine months was $1,245,000, or $.47 per share, compared with a loss last year of ($856,000) or ($.39) per share.
 "Increased wholesale distribution of brand name micro computer products was the largest contributor to the positive quarter results," said Wen. "In particular, strong demand for hard disk drives, monitors and peripherals boosted quarterly results."
 Wen noted that the profitable results were achieved in spite of general weakness in the markets in which the company serves, and significant start-up expenses incurred in the launching of new product lines.
 "During the quarter progress was made in the development of the company's Media Resources subsidiary, dedicated to the development and sale of multimedia products and systems. We expect this market to grow rapidly over the next several years. We also launched Intelligent Hardware Solutions directed towards the growing market for multiprocessor platforms.
 "In addition to strong revenue growth operating expenses were reduced through increases in productivity and the consolidation of certain branches, as well as maintaining strict controls over inventory and receivables," said Wen.
 Wen noted that the company's balance sheet continues to improve through retained earnings, the recent divestiture of an unprofitable affiliate, and the conversion of subordinated debt into preferred stock.
 "We continue to believe that in the face of a severe recession, fiscal 1992 will conclude with record operating results and a strong foundation built for future growth," said Wen.
 PCC Group Inc., is a national distributor of microcomputer products. The company also assembles and markets: PC Craft and Prominent brand microcomputers; multimedia hardware and software products under the Media Resources brand; and IHS brand multi- processor platforms.
 PCC GROUP INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (in thousands, except per share data)
 (unaudited)
 Three Months Ended Nine Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net sales $22,990 $13,844 $69,037 $45,068
 Cost of sales 21,194 12,768 63,029 40,757
 Gross profit 1,796 1,076 6,008 4,311
 Selling, general &
 administrative
 expenses 1,557 1,307 4,647 4,163
 Income (loss)
 from operations 239 (231) 1,361 148
 Other income (expense)
 Interest for subordinated
 note (Note 2) --- (375) --- (1,125)
 Other income
 (expenses), net (66) 100 (4) 125
 Total (66) 275 (4) (1,000)
 Income (loss) before
 income taxes 173 (506) 1,357 (852)
 Provision for
 income taxes 23 4 112 4
 Net income (loss) $150 ($510) $1,245 ($856)
 Earnings (loss)
 per share $0.04 ($.23) $.47 ($.39)
 Weighted average number
 of common shares and
 common stock
 equivalents 2,312,375 2,220,875 2,263,561 2,220,875
 PCC GROUP INC.
 Balance Sheet Summary
 (in thousands)
 Nine Months Ended Year Ended
 June 30, 1992 Sept. 30, 1991
 (Unaudited)
 Assets
 Cash $1,027 $621
 Current assets 11,959 8,934
 Total assets $12,847 $9,899
 Liability & Shareholders' Equity
 Current liabilities $10,217 $8,477
 Long-term debt 379 379
 Shareholders' equity (deficit) 2,251 (13,994)
 Total liabilities and
 shareholders equity $12,847 $9,899
 -0- 8/14/92
 /CONTACT: Lauro Valdovinos of PCC Group, 714-256-5000; or William F. Coffin of the Financial Relations Board, 818-783-2400, for PCC Group/ CO: PCC Group Inc. ST: California IN: CPR SU: ERN


KJ-JL -- LA025 -- 0234 08/14/92 17:37 EDT
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Date:Aug 14, 1992
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